FMD completes company merger and appoints new CEO
FMD Financial has announced its successful merger with FMD Group member Reynolds Williams and Associates and the appointment of former Perpetual Private Wealth executive Lee Wapling as chief executive.
The new merged entity is expected to provide FMD with the scale and structure required to support the company's growth ambitions, having worked closely with RWA's Mike Reynolds and Graig Williams for many years, said FMD chairman Greg Fagan.
He added that Wapling's appointment continues the corporatisation of FMD, following on from the investment made by private equity firm Rockwell Investments in 2010.
Fagan said Wapling has a wealth of acquisition and integration experience that will allow FMD to accelerate the acquisition opportunities it is already considering, and to assist in identifying others.
Bringing years of financial services experience, particularly in providing financial advice to high net worth clients, Wapling was most recently state manager at Perpetual Private Wealth.
As part of the merger, Fagan, Reynolds, Williams, Adam Davenport, and Rockwell chairman and director Adam Levine have been appointed directors of the new entity which began operating from 1 December 2011.
AUTHOR
Andrew Tsanadis
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